Industry News by Nemesis

Botswana Diamonds Offers to Buy BCL's 51Percent Stake in Maibwe

June 11, 2018

Botswana Diamonds said it has offered to buy the liquidated BCL Mine’s 51 percent stake in the Maibwe diamonds exploration joint venture project, which is located in the central Kalahari region of the southern African country.

The Maibwe JV consists of a block of 10 licences and Botswana Diamonds’ 51 percent owned Siseko, currently has a 29 percent stake in the project.

The other partner in Maibwe was local consortium Future Minerals, which owns a 20 percent stake.

Company managing director James Campbell told the Botswana Resource Sector Conference in Gaborone that they are hoping to get the liquidator’s response in the next few months.

BCL had been under liquidation since 2016 and was unable to finance an agreed work plan.

A diamond drilling conducted in 2015 on PL 186 found a number of diamondiferous kimberlites. 


Source: Rough&Polished

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